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WAEC Commerce 1992 Question 39

Question 39

Business Finance

The document issued to a lender under a company's seal acknowledging a debt is called

  1. A.stock
  2. B.share
  3. C.dividend warrant
  4. D.debenture
  5. E.mortgage
Show the answer and explanation

Answer: D (debenture)

Explanation

A debenture is a sealed certificate showing that the company has borrowed money from the holder.